Up and Down Wall Street

Pocketbook Love

Why investors should heed John Bull.

Britannia waives the rules. Alone among the 27 members of the European Union, the Brits chose not to join the rush to amend the EU treaty. London decided apparently that surrendering a sizable chunk of its economic sovereignty to a bunch of wastrels and spendthrifts wasn't a great idea.

The refusal met with a rash of criticism and accusations that the British treasured their splendid isolation above the welfare of their neighbors. We...